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2022 And Workers’ Compensation Rates

2022 And Workers’ Compensation Rates

Great news for the construction industry

A few weeks ago, Florida formally approved the workers compensation insurance rates presented by NCCI for 2022.  This confirms another rate decrease for workers’ compensation insurance, especially for several construction-related classifications.  Here are just a few: 

  • -1.14%, 5022 – Masonry NOC = $8.68
  • -20.95%, 5037 – Painting; Metal Structures, +Two Stories in Height = $11.70
  • -5.2%, 5213 – Concrete Construction NOC = $8.20
  • -4.98%, 5215 – Concrete Work – Incidental, Private Residence = $6.68
  • -15.36%, 5403 – Carpentry NOC = $6.17
  • -14.21%, 5551 – Roofing – All Kinds = $11.41
  • -7.01%, 5645 – Carpentry – Detached One or Two-Family Dwellings = $12.61
  • 14.14%, 8227 – Construction or Erection Permanent Yard = $5.16

The PEO industry has been growing rapidly over the past decade in Florida, especially in the construction trades. We believe the continued decrease in these rates are a direct result of all the great things a PEO provides its customers and in this case, the construction trades – from increase awareness on all matters of workplace safety, superior attention to all claims, and programs that help the injured worker stay engaged and back to work faster.  

PEO’s create real value for its customers and the PEO industry still has a lot of room for growth!  Construction is a booming industry in Florida and is likely to continue to grow for many years.  Bridgely Key Options is the #1 PEO Broker Agency in Florida for the construction trades. 

Although construction is our specialty, Bridgely Key Options works with PEO brokers and independent insurance agents across the state to offer comprehensive employer payroll, insurance, and human resource solutions for all small and midsized businesses.

Want to talk more about these rates and how they may benefit you?  Fill out the form or give us a call today!  941-896-4880

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